Dyne Therapeutics prices upsized $375 million stock offering at $20.50 a share

Dyne Therapeutics announced on July 21, 2026 the pricing of an upsized underwritten public offering of 18,300,000 shares of its common stock at a public offering price of $20.50 per share.¹ Gross proceeds are expected to be $375,150,000¹, and the offering is expected to close on or about July 23, 2026, subject to customary closing conditions.¹

Per the underwriting agreement, the underwriters have agreed to purchase the shares from the company at a price of $19.27 per share.¹ The company estimates net proceeds of approximately $352.1 million, or approximately $405.0 million if the underwriters exercise in full their option to purchase additional shares.¹ Dyne has granted the underwriters a 30-day option to purchase up to an additional 2,745,000 shares of common stock at the public offering price, less underwriting discounts and commissions.¹

Morgan Stanley, Jefferies and Evercore ISI are acting as joint book-running managers for the offering, along with LifeSci Capital and Raymond James, with Jones acting as lead manager.¹

On cash runway, the company said the net proceeds from the offering, together with existing cash, cash equivalents and marketable securities, including the third term loan tranche of $50.0 million borrowed under its Loan Agreement with Hercules Capital in June 2026, will enable it to fund operating expenses, debt service obligations and capital expenditure requirements into the second quarter of 2028.¹

The related prospectus supplement described Dyne as a clinical-stage company focused on delivering functional improvement for people living with genetically driven neuromuscular diseases.² It also disclosed that in July 2026 the FDA accepted for review its biologics license application for zeleciment rostudirsen (z-rostudirsen, also known as DYNE-251) for DMD amenable to exon 51 skipping, granting Priority Review and assigning a PDUFA target action date of January 21, 2027.²